Abstract
Over the last 30 years, simulation models have become accepted by the business sector as a means to understand the interaction of business decisions with their market environment. Public utilities have a history in using static models to forecast demand growth and develop “least cost resource plans.” The effects of the California energy crisis were felt well outside the borders of that state. In the hydro-generation dominated system of Pacific Northwest, drought conditions constrained generation and exacerbated the demands placed on the western sport markets. This article describes the application of the ENERGY2020/REMI model to the problem of estimating the regional economic impacts of possible wholesale electricity rate increases and industrial load curtailment by a large Federal Power Marketing Agency during a period of highly volatile and uncertain energy prices.
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